RTTNews | Apr 26, 2021 08:14AM EDT

08:14 Monday, April 26, 2021 (RTTNews.com) - Raytheon Technologies Corp. (RTX) announced Monday that Thomas Kennedy, executive chairman of the Board of Directors, will retire effective June 1, 2021, following the one-year anniversary of the merger of United Technologies and Raytheon.

Kennedy has held various leadership positions since joining Raytheon in 1983 and served on its board for six years. Chief Executive Officer Greg Hayes has been appointed by the Board of Directors to chairman of the board in addition to his current role as CEO of Raytheon Technologies.

Kennedy became executive chairman in April 2020 upon the closing of the merger between Raytheon Company and United Technologie. Prior to the merger, he was chairman and chief executive officer of Raytheon Company for six years.

Hayes became chief executive officer of Raytheon Technologies after successfully completing the merger between Raytheon and United Technologies' aerospace businesses, Pratt & Whitney and Collins Aerospace Systems, while simultaneously separating Otis Elevator Co. and Carrier Corp. into independently traded companies in April 2020.

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